Did the U.S. leak data early last night??
Some Gulf countries are getting more directly involved in exerting pressure on Iran, with the UAE potentially launching covert strikes against Iran.
The situation is getting more serious; I feel the market is starting to become immune to news from the U.S.-Iran front, mainly regarding Hormuz.
Last night, I had a feeling that the data for today might have been leaked early by the U.S., or that the worsening situation was already being digested by the data; that's why the market shot up.
Tonight we have the small non-farm payrolls and CPI.
I believe the bullish trend won't last long; it's likely to be a slow climb.
If we can't break above 4750, we might see a retracement to the 4720-4700 zone, at most dipping to 4680, but that’s not guaranteed.
If the price doesn't retrace and instead breaks through 4750, we should first look for 4780.
As I’m writing this post, the price has already surged to 4750, so we need to see a right-side retracement to go long for 4780, but we need to tread carefully during this phase.
If this breakout doesn't continue to 4780 and instead drops below 4750, just wait for the domestic market to open.
⚠️ Just my personal opinion
#IranRejectsUSPeacePlan #XAUUSD #xauusdt